All of the following encourage increases in technological progress EXCEPT
A) closed economies.
B) larger markets through free trade.
C) the possibility of monopoly profits.
D) the ability to patent a new invention.
A
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The table above gives Sharon's demand for ground beef at two different income levels. Use the midpoint method in this problem
a. What is the percentage change in Sharon's income? b. What is the percentage change in the quantity demanded? c. What is Sharon's income elasticity of demand for ground beef? d. Is ground beef a normal or an inferior good for Sharon?
If Bobby decides that his marginal utility per dollar spent on vanilla ice cream exceeds his marginal utility per dollar spent on chocolate ice cream, he should then
A) buy more chocolate ice cream and less vanilla ice cream. B) buy more vanilla ice cream and less chocolate ice cream. C) buy all the vanilla ice cream he can. D) never buy chocolate ice cream.
The strongest point in the case against activism is that
A) so many segments of private aggregate demand are unstable. B) activist policy, even if desirable, is too difficult to perform well enough. C) private aggregate demand is basically stable. D) policy rules for targets have been proven by the record of the Fed in the 1980s and 1990s to be perfectly feasible.
By the end of the 20th century, the countries of origin of the new U.S. immigrants shifted away from its European majority. A smaller percentage of total immigrants arrived from Europe, and more and more came from Asia, Canada and Mexico
Indicate whether the statement is true or false